US private equity firm Blackstone Group LP has set its foot in India’s distressed asset space with a majority stake in an asset reconstruction company (ARC), two people familiar with the development told VCCircle.

Blackstone has bought a majority stake in Mumbai-based International Asset Reconstruction Co Pvt Ltd (IARC), the people mentioned above said. “Blackstone, through its opportunistic investments arm Tactical Opportunities or Tac Opps, has picked up a 51% stake in IARC, while the rest stays with investors, including HDFC Bank, Tata Capital Financial Services and ICICI Bank,” one of the person said, adding that the deal was sealed recently.

The other person said that City Union Bank, FMO Netherlands and Standard Bank Plc, UK, have exited their investments in IARC through the control deal. The three investors held around 25% stake in IARC before the transaction.

Separate email queries to IARC and Blackstone spokespersons, seeking details on the transaction, did not elicit any response till the time of publishing this report.

However, in a recent interview with VCCircle, Blackstone’s senior managing director Amit Dixit had said that the firm had taken control of an asset reconstruction company in India and had set up that platform.

“The strategy would be to buy loans and that is already up and running. It would be a two-pronged strategy – if a loan is available through any of the banks, we will buy from the ARC platform, but if a company is available, like in one of the bankruptcy cases, we would do that from our private equity platform. That’s how we have planned to go about distress (asset class).”

He had, however, not shared the details and name of the ARC back then.

With this, Blackstone, which had so far invested in the Indian private equity and real estate space, has added a new asset class. The PE major had invested about $6 billion (Rs 39,037 crore) in India since 2005. Of this, nearly three-fifths has gone into PE deals and the remaining in real estate.

Earlier, Mint had reported citing sources that Blackstone is in talks for a deal with IARC. However, it had said that the PE firm will first pick up a minority stake in the company.

IARC bets big Arun Duggal, the former managing director and chief executive officer of Bank of America in India, had set up IARC in 2002, along with MS Verma, a State Bank of India veteran.

According to the company website, with offices in Mumbai, Gurugram and Chennai, IARC aims to carve out a niche for itself, helping in the revival of sick units with turnaround potential, and optimising resolution of non-performing assets.

Between 2012-13 and 2014-15, IARC’s revenue grew substantially from Rs 15.56 crore to Rs 33.50 crore, while its net profit rose to Rs 4.41 crore from 1.31 crore, during the period. Subsequently, in the following fiscal year, the company’s revenue dipped to 31.82 crore, to recover slightly in 2016-17 to Rs 32.84 crore. Its net profit, however, rose substantially to Rs 6.22 crore in the fiscal year ended 31 March 2017.

Stressed assets The development comes at a time when India’s non-performing assets and restructured loans stood at Rs 9.46 lakh crore, or 12.2% of total advances, as of September 2017. The central bank’s revised framework puts another 3.5% of total advances, classified as SMA-2, at the risk of becoming NPAs.

The RBI has also been introducing new norms for ARCs to encourage cash-based acquisitions. It had hiked the minimum net-owned funds for ARCs to Rs 100 crore from Rs 2 crore, and had directed banks to continue to provide for the loans sold, if they held more than 50% (10% from 2018-19) of loan value in SRs.

Besides, the government has also allowed 100% FDI in ARCs, allowing them to raise the necessary capital to address the size of the NPA problem.

With regulatory arbitrage on provisioning now gone, banks are increasingly looking for cash-based transactions. This will require ARCs to have access to higher quantum of capital and capabilities to handle and resolve complex NPAs in a time-bound manner.

Recently, Aditya Birla Capital Ltd, the holding company of the group’s financial services interests, said that it was likely to foray into the asset reconstruction business.

Some of the global firms, which have set up partnerships to invest in stressed assets in the country, include Canadian pension funds Caisse de Dépôt et Placement du Québec (CDPQ) and Canada Pension Plan Investment Board (CPPIB). Alternative investment firms Bain Capital, Oaktree Capital, Brookfield Asset Management and J.C. Flowers & Co have also marked their presence in the space.

US private equity firm JC Flowers & Co had floated a joint venture with Ashok Wadhwa-led investment bank Ambit Holdings Pvt Ltd to acquire stressed assets in India. Financial services firm SREI Alternative Investment Managers Ltd, which is part of Kolkata-based SREI Group, had also announced its plans to float a Rs 2,000-crore fund to invest in debt instruments of stressed companies.

Blackstone’s Tac Opps unit Globally, Blackstone’s Tac Opps unit, led by David Blitzer, has a team of 60 professionals who identify and execute differentiated investments on behalf of other investors. As its investments typically fall outside traditional alternative investment categories, the unit aims to deliver less correlated returns and lower volatility across its portfolio, as per its website.

The unit was started in 2012 and already has assets under management of about $22 billion. Tac Opps had capital inflows of $5.9 billion in 2017 and with 15% appreciation, its second best year on record.

Among the nine major PE funds run by Blackstone, Tac Opps churned out one of the best net internal rate of return (IRR) of around 13% for the year ended December 31, 2017.

Merisis Advisors is pleased to announce that its client, F1 Info Solutions, offering comprehensive lifecycle services for IT, Mobility, AV & Enterprise Solutions, Displays, Security and Consumer Electronics, has been acquired by Flipkart. Merisis was the exclusive advisor to F1 Info Solutions in the transaction.

In the highly competitive consumer electronics and ICT market, all the OEMs need a reliable post sales service partner to differentiate themselves and give a seamless experience to their customers. Established in 2012, F1 Info Solutions is a leading after sales service provider with a distributed repair service network of around 158 owned and franchised centers across 135 cities. Focused on comprehensive repair and service of mobiles, IT products, consumer electronics, AV devices and smart-classroom technology, F1 Info Solutions has close to 1,000 employees. It is also a trusted service partner for several global mobile and IT brands such as Apple, Samsung, HP, Lenovo, Sony and Asus, among others.

The acquisition will significantly expand Flipkart’s offerings to the entire lifecycle of mobiles, IT products and consumer electronics, from sales to after sales and to repair services. “We want to give our customers a comprehensive service ecosystem that takes care of the repair and service needs of all their products,” said Kalyan Krishnamurthy, CEO, Flipkart.

F1 Info Solutions will be part of Jeeves, Flipkart’s company that is a third-party service provider for large and small appliances and furnitures. “We wanted to expand our service capabilities into the mobiles service domain given how significant mobile sales are on the Flipkart platform,” said Abhijit Upadhye, head of Jeeves. “We will look at an end-to-end refurbishing of the phone and potentially selling it in the second-hand market. This acquisition ties-in with their strategy of collecting secondhand products through the company’s buyback guarantee and exchange offers and repair them in order to make it re-sellable” added Upadhye. As part of this acquisition, Flipkart customers would be able to walk into the authorised service centres to get their phones repaired within the warranty period. Further, “We are trying to connect that end-to-end cycle. We did this two years ago, when Jeeves was acquired. Jeeves was primarily focused on the large appliances category and later furniture was also added to the portfolio. So, we added that consumer lifecycle journey by acquiring Jeeves. After that, we wanted to do the same with mobiles and smartphones as a category. And that’s where F1 fits in. Either it was a question of Jeeves building this capability or figuring out a way to accelerate that journey through an acquisition. We were happy that we found F1 which does that for us,” Upadhye added.

Shammi Moza, the company’s CEO will join Flipkart as a senior director as part of the deal.

Commenting on Merisis’ role in the transaction, Shammi Moza said: “From the get go, Merisis fully understood our requirements, strategically guiding us through the tedious M&A process and helped us on all the phases. Their guidance to me personally at different stages of this transaction was of great value. The team’s attention to detail, especially in verifying, analysing and scrutinizing heaps of data was commendable and played a key role in ensuring a smooth transition. Further, the team’s ability to provide a quick and prompt response 24×7 deserves a special commendation.”

About Merisis Advisors: Merisis Advisors is an investment banking advisory firm, offering independent advisory services to emerging growth and mid-market corporate clients and family offices, on mergers and acquisitions as well as fund raising activities. The firm also advises asset management companies on follow-on fund raise and exit for their portfolio companies. Merisis focuses on the technology, consumer and related sectors, having built significant domain knowledge and transaction experience. For more information, please visit www.merisisadvisors.com or contact fazal@merisis.in.

This press release is to share Merisis’ role in a fund raise that was completed in late CY2016, and to share their testimonial to our services.

We are happy to share with you that Merisis Advisors has been the exclusive advisor to ZipGo Technologies, a leading on-demand bus service and aggregation platform, in its $6 million fund raise from Ventureast, Omidyar Networks, Orios Venture Partners and Innoven Capital, completed in late CY2016.

About ZipGo ZipGo is catering to the huge unmet demand in urban daily commute segment, leveraging technology and an asset light model to connect users with supply. It has an single minded focus on providing the best customer experience in its category. The core value proposition of convenience, efficiency & affordability – backed with excellent operational control and customer care – has allowed ZipGo to quickly build a loyal following among its users. The ZipGo team has demonstrated a strong focus on unit economics, determined to create a scalable and profitable business.

Jitender Sharma, Co-founder, ZipGo on Merisis’ role in the transaction: Merisis’ faith in the ZipGo team was unwavering through the fund raise and they put in immense efforts to back this belief, which I believe helped significantly in getting investors on board. They are thorough professionals and supported us through the entire process, even in diligence and documentation. A pleasure working with them.

About Investors (Ventureast, Omidyar Network, Orios Venture Partners and Innoven Capital): Ventureast Fund Advisors India Limited is a private equity and venture capital firm specializing in all stages, incubation, mezzanine, early, seed, startup, and growth capital investments in small and medium middle market enterprises. It provides seed and early stage capital to companies operating in India. It considers investing between $0.1 million and $15 million. Ventureast Fund Advisors India Limited was founded in 1997 and is based in Bangalore, India with additional offices in Hyderabad, India and Chennai, India.

Omidyar Network is a private equity and venture capital firm specializing in seed, startup, growth stage, early, and mid venture investments. It invests in profit and non-profit organizations. The firm typically invests and support companies around the world with a focus on India, United Kingdom, Southeast Asia, United States, Europe, Latin America, and Sub-Saharan Africa. It seeks to make initial investments greater than $1 million. The firm invests between $1 million and $10 million in for-profit companies and between $0.5 million and $5 million in non-profit companies. It makes philanthropic investments and grants through access to capital and media, markets, and transparency. Omidyar Network was founded in 2004 and is based in Redwood City, California with additional offices in Washington, D.C.; Johannesburg, South Africa; Mumbai, India; and London, United Kingdom; and London, United Kingdom.

Orios Venture Partners is a seed stage venture fund which primarily invests in consumer technology startups and brands. Orios works closely with invested companies, especially in marketing and branding, to help them cost effectively breakout and build a loyal tribe of users. Orios was founded by Rehan Yar Khan whose past investments include Druva, Olacabs, Reach Accountant, Sapience, Pretty Secrets, Jigsee, Unbxd, Ziffi and Snaplion. Orios Venture Partners was founded in 2013 and is based in Mumbai, India.

InnoVen Capital is Asia’s leading venture lending firm with offices in Mumbai, Singapore and China. In India, InnoVen Capital is positioned as the first and largest venture debt provider to venture capital backed start-ups in India across stages of growth and sectors. The China office was established in April 2017 and supports the growth of leading companies of the next generation in greater China area. Specifically, InnoVen China focuses on lending to high-growth start-ups after their series A funding.

About Merisis Advisors: Merisis Advisors is an investment banking advisory firm, offering independent advisory services to emerging growth and mid-market corporate clients and family offices, on mergers and acquisitions as well as fund raising activities. The firm also advises asset management companies on follow-on fund raise and exit for their portfolio companies. Merisis focuses on the technology, consumer and related sectors, where they have built significant domain knowledge and transaction experience. For more information, please visit us at www.merisisadvisors.com or contact fazal@merisis.in.

]]>http://merisisadvisors.com/merisis-advises-zipgo-on-its-series-a-fund-raise-from-ventureast-omidyar-networks-orios-venture-partners-and-innoven-capital/feed/0IT Services – Q1 FY 2018 – Accenture’s Recent M&A Historyhttp://merisisadvisors.com/it-services-q1-fy-2018-accentures-recent-ma-history/ http://merisisadvisors.com/it-services-q1-fy-2018-accentures-recent-ma-history/#respondWed, 02 Aug 2017 11:23:26 +0000http://merisisadvisors.com/?p=7432In our effort to make sense of the IT Services business beyond the visa debate that is pervasive on the airwaves, we wanted to look at a notable powIn our effort to make sense of the IT Services business beyond the visa debate that is pervasive on the airwaves, we wanted to look at a notable powerhouse in the services business – Accenture. The path laid by Accenture is an envious one for others in the industry to emulate. Here’s a quick summary to give you, the reader, a sense of its scale: erhouse in the services business – Accenture. The path laid by Accenture is an envious one for others in the industry to emulate. Here’s a quick summary to give you, the reader, a sense of its scale:

Accenture Financial Metrics

Business Overview:

Accenture Businesses

Accenture has become a global conglomerate not just through organic growth avenues but through strategically acquiring assets to ensure greater depth in their customer relationships and be a one-stop-shop for all professional services requirement for their clients. Accenture wants to be the first one to be called if there a job to be done by their client beyond their core expertise.

Accenture has made ~ 70 transactions since 2013. This is by no means a small feat – it requires a well-oiled M&A system to drive so many acquisitions and ensure smooth integration to ultimately deliver value. There is operational nimbleness that is unique to Accenture. In the professional services world, there is no near second though most desire to be an equal. We at Merisis believe that Accenture’s M&A strategy is a leading indicator for the existing trends in the IT industry and the future of the industry. As part of our IT Service Practice, we decided to analyze Accenture’s M&A acquisitions and derive the trends regarding the products, services, industries and geography capabilities acquired. Here’s a quick timeline for your review. You can click on the image to expand in a browser window.

Here’s a quick timeline for your review. You can click on the image to expand in a browser window.

Accenture M&A Timeline

There are many trends that we have identified. With the limited space that an email provides, let us share the top two. In case you are interested in knowing, please feel free to contact us and we will be happy to share more.

The top two trends are – 1. One constant we can see in terms of acquisition opportunity has been Digital agencies. There have been about 3-4 acquisitions every year in the area. These acquisitions would be likely to gain entry into a geography or a certain set of clientele unique to those agencies (many acquisitions in a particular area clearly imply that they aren’t done for skill accentuation). These acquisitions opened doors to clients in Germany, Netherlands, Hongkong, Brazil etc. 2. There has been continued interest in SaaS consulting services i.e. Servicenow consulting (Nashco in Nov 2016 and Solid-Servision.com in Jan 2017), Workday consulting (Daynine Consulting in Sep 2016) and Salesforce Consulting (New Energy Group in Sep 2016) – these acquisitions are interesting given Accenture’s prior acquisition of CloudSherpas which was a major SaaS implementation company. One would assume that this should provide enough of a skill base to expand on – however Accenture seems to be expanding its presence across the sector i.e. skill land-grab. Accenture has the largest base of Saas implementation resources already ~ 33,000 but its appetite for SaaS services acquisitions for people is fairly high – a sign for strong demand (Nashco had only about 25 ServiceNow specialists).

In conclusion, based on Accenture’s history, we can still expect M&A interest in digital agencies and Saas implementation companies which reflect 1) Increase in design-approach towards services implementation (also a hedge against future – refer to our previous newsletter for expected future IT Trends) 2) Continuing demand for Saas/cloud products by clients. US will continue to be a preferred geography for acquisition. In the near term, however, apart from their M&A strategy, it would also be interesting to see how Accenture will be able to manage the Visa crisis that the IT industry is facing 3) There are a few emerging trends which aren’t reflected in Accenture’s M&A list but we can assume that may change soon.

PayU India CEO Amrish Rau and managing director Jitendra Gupta have together invested $250,000 in Bengaluru-based fintech startup Open, which is set to offer digital banking, bookkeeping, invoicing and other services to micro-entrepreneurs.

The capital will be used for branding and expansion of the 12-member team, said Anish Achuthan, who cofounded Open with his wife, Mabel Chacko in May. Open will launch its platform in August. “Small businesses and entrepreneurs have started moving to app-based banking, and Open offers a whole range of services,” Rau told ET.

“Anish himself has been in the fintech space for long and knows the sector very well.” The company is tying up with a private bank for backend account servicing, and has also partnered with a GST Suvidha provider (GSP) to offer small businesses help in filing invoices under the new GST regime.

The company will also tie up with an NBFC to offer lending products to these businesses. “We want to provide a complete solution for micro-entrepreneurs, freelancers and startups with only a handful of employees to manage their business banking and also offer analytics. We aim to reach about 10,000 such small entrepreneurs in six months,” said Achuthan, a former PayU member. Achuthan and Chacko had earlier founded payments startup Zwitch, which was acquired by Citrus Pay in 2015.

PayU itself is looking to build a digital banking solution, which Rau said was about 18 months away. Other fintech players, such as MobiKwik, are also set to offer loans and credit as well as other financial services to customers.

Merisis Advisors is pleased to announce that its client, Perfios Software Solutions, a leading credit and personal finance data aggregation and analytics platform, has raised INR 40 crore ($6.1 million) from Bessemer Venture Partners. Merisis was the exclusive advisor to Perfios in the transaction.

Perfios is a technology data platform with focus on financial data analysis and aggregation for credit assessment and personal finance. Perfios also has its own personal finance management solution and provides financial data aggregation APIs, which help power personal finance or money manager applications of fintech companies. The company also works on other use-cases such as with recruitment consultants to verify pay slips and financial data of candidates, as well as matrimonial sites to verify income details and the likes. The Bengaluru-based firm was founded in 2009 by V.R. Govindarajan and Debasish Chakraborty, who were among the founding members at Aztecsoft, which was acquired by Mindtree.

Perfios’ core technology helps more than 100 banks, NBFCs and fintech companies in aggregation and analysis of financial data such as bank statements and business financials, to help generate a credit report for digital lenders and shorten their turnaround time to decide on an application. The company’s clients include leading banks such as HDFC Bank, Yes Bank and Axis Bank, NBFCs such as Capital First and Bajaj Finance, and new-age fintech companies such as Capital Float and Lendingkart.

The funds will be used for three core areas – team expansion from company’s current strength of 55 people, international expansion by strengthening the presence in the United Arab Emirates and Southeast Asia where Perfios already serves clients, and potential acquisitions of tech startups.

This is Bessemer’s first investment in a fintech company in India. “We think of Perfios as an embedded intelligence product that has wide applications in the fintech space. We are excited since the company can combine disparate data sources which will help it create a long-enduring moat by becoming a value-added provider to the fintech ecosystem,” Aakash Goel, VP at Bessemer Venture Partners, India said.

Commenting on the transaction, Sumir Verma, Managing Director, Merisis Advisors, said “Through our understanding of the fintech sector, we knew Perfios to be the ubiquitous choice for fintech and financial services companies for their credit decisions. Perfios is poised to grow exponentially with India’s push towards a digital economy and we are delighted to have helped Perfios in their first institutional round of funding.”

About Bessemer Venture Partners: Bessemer Venture Partners is a venture capital firm with more than $4.5 billion in assets under management. It provides seed, early, expansion, growth and late stage capital to companies across the world. The firm is headquartered in Silicon Valley with additional offices in Bangalore, Boston, Israel, New York and San Francisco. For more information, visit www.bvp.com.

About Merisis Advisors: Merisis Advisors is an investment banking advisory firm, offering independent advisory services to emerging growth and mid-market corporate clients and family offices, on mergers and acquisitions as well as fund raising activities. The firm also advises asset management companies on follow-on fund raise and exit for their portfolio companies. Merisis focuses on the technology, consumer and related sectors, where they have built significant domain knowledge and transaction experience. For more information, please visit us at www.merisisadvisors.com or contact fazal@merisis.in.

This is the first of our continuing series of newsletters focused on technology services. We began our coverage at a very important inflexion point in the world economy. In 2008, the invisible hand of the market, greed, poor regulations etc. were put to blame – a lot of amorphous, complex, nebulous, anonymous causes were collectively & individually blamed without clear understanding. But what is happening now is unequivocally man-made. Brexit and American nationalism/protectionism are here to stay and there’s no going back.

At the time of putting together this newsletter, the Trump presidency was only in its first week and we had only speculated how it could impact IT services focusing more on technology. Given the focus on nativism & protectionism, it is possible that the focus of IT services will shift dramatically towards economies and geographies (likely away from the US) due to increasing uncertainties. This could be corroborated from the market sentiments too – on last count, the BSE IT Index had dropped 9% fearing slower growth. Unfortunately, technology based development is innovation and this ultimately would affect the growth of the sector when the focus shifts away. Hopefully, (but unlikely) this doomsday-type scenario will not come to see the light of day and IT Services will continue doing well as IT Services is “too-big-to-fail” for India in many ways. On that happy note, we quickly recap the key deals executed in Q2 and Q3 FY 2017.

]]>http://merisisadvisors.com/it-services-q3-fy-2017-update-merisis-advisors/feed/0Consumer Spotlight Q2 FY 2017 – M&A and Private Equity Perspective on the Consumer Sector in Indiahttp://merisisadvisors.com/consumer-spotlight-q2-fy-2017-ma-and-private-equity-perspective-on-the-consumer-sector-in-india/ http://merisisadvisors.com/consumer-spotlight-q2-fy-2017-ma-and-private-equity-perspective-on-the-consumer-sector-in-india/#respondTue, 29 Nov 2016 11:07:39 +0000http://merisisadvisors.com/?p=7352Continuing with the initiative of covering the Consumer Sector on a quarterly basis, Merisis Advisors presents – “Consumer Spotlight Q2 FY 2017”. The Newsletter provides commentary on the M&A and Private Equity Perspective on the Consumer Sector in India for Q2 FY 2017. We studied some interesting trends, useful to both the consumer companies as well as the Investor community.

We decided then to take the extra effort to put our findings and analysis in the form of a report for the benefit of the larger audience. Here is a small summary of what we have covered:

Merisis Advisors is pleased to announce the acquisition of its client PSI Hydraulics (PSI) by Manuli Hydraulics (Manuli), a division of Manuli Rubber Industries of Italy.

PSI is India’s 3rd largest company in the field of Hydraulic Fluid Conveyance Solutions, having operations in Bangalore and Udaipur whereas Manuli Hydraulics is one of the leaders in fluid conveyance solutions with presence in over 14 countries across the world.

This acquisition further strengthens Manuli Hydraulics global footprint in manufacturing and assembly operations, bringing its capabilities closer to key industries within the growing Indian market, whilst also providing enhanced local support to the existing and target OEM clients of both companies. PSI has for over two decades delivered a highly motivated, professional and successful service to clients in India. This association is expected to provide the optimum combination of both Manuli and PSI’s strengths to the Indian market.

Commenting on the merger Mr. Fazal Ahad, Director, Merisis Advisors, said “The PSI – Manuli transaction highlights the increasing interest in niche Indian manufacturing facilities in hydraulics space for global players.” He further added “This is the fourth cross-border M&A transaction Merisis has done and it shows the extensive global reach that the team has developed.”

About PSI Hydraulics: PSI Hydraulics (“PSI”) is India’s 3rd largest company in the field of Hydraulic Fluid Conveyance Solutions having operations in Bengaluru and Udaipur. PSI’s products are supplied to OEMs and End Users for use in heavy earth moving, construction, surface and underground mining equipment, machine tools, plastic injection molding machines, material handling equipment, and steel, cement and defense equipment.

About Manuli Hydraulics: Manuli Hydraulics, a division of Manuli Rubber Industries (MRI)is one of the top global fluid solutions conveyance companies. Manuli Hydraulics is focused on achieving excellence in the design, manufacture and supply of fluid conveyance solutions, components and associated equipment for high pressure hydraulics, refrigeration and oil and marine applications. Manuli Hydraulics has over 2,000 employees, with manufacturing and logistics facilities located in 14 countries throughout the world. For more information, visit www.manuli-hydraulics.com.

About Merisis Advisors Merisis Advisors is an investment banking advisory firm, offering independent advisory services to emerging growth and mid-market corporate clients and family offices, on mergers and acquisitions as well as fund raising activities. For more information, please contact fazal@merisis.in

]]>http://merisisadvisors.com/merisis-advises-psi-hydraulics-on-its-acquisition-by-manuli-hydraulics-a-division-of-manuli-rubber-industries-of-italy/feed/0Consumer Spotlight Q3 FY 2016 – M&A and Private Equity Perspective on the Consumer Sector in Indiahttp://merisisadvisors.com/consumer-spotlight-q3-fy-2016-ma-and-private-equity-perspective-on-the-consumer-sector-in-india/ http://merisisadvisors.com/consumer-spotlight-q3-fy-2016-ma-and-private-equity-perspective-on-the-consumer-sector-in-india/#respondFri, 15 Jan 2016 13:52:57 +0000http://merisisadvisors.com/?p=2513Continuing with the initiative of covering the Consumer Sector on a quarterly basis, Merisis Advisors presents – “Consumer Spotlight Q3 FY 2016”. The Newsletter provides commentary on the M&A and Private Equity Perspective on the Consumer Sector in India for Q3 FY2016. ​We studied some interesting trends, useful to both the consumer companies as well as the Investor community.

We decided then to take the extra effort to put our findings and analysis in the form of a report for the benefit of the larger audience. Here is a small summary of what we have covered:

– Merisis’ Consumer Sector Coverage Synopsis

– Investment Activity in India in Q3 FY2016

– Top 5 PE and M&A Deals in Q3 FY2016

– Analyzing a notable PE Deal and M&A Deal- ‘Grofers’ and ‘Wirecard’s acquisition of Great Indian Retail Group’s Payment service and Technology space’

– In-depth Sector Coverage – ‘Health Care at Home’

– Deals Closed this Quarter in the Consumer Space and the On-Going Opportunities with Merisis Advisors